SBI net profit up 30 percent to Rs 3,658 crore

Mumbai: State Bank of India on Saturday posted a 30.16 percent jump in net profit at Rs 3,658.14 crore during the second quarter of current fiscal.

The bank had registered a net profit of Rs 2,810.43 crore in the corresponding July-September period of last year. The bank, however, showed signs of stress on asset quality as the gross non-performing assets ratio jumped to 5.15 percent from the year-ago period of 4.19 per cent.

In absolute terms, the gross non-performing assets stood at Rs 49,202.46 crore, SBI said in a filing to the BSE. The bank's core net interest income rose 4.69 percent to Rs 10,974 crore during the reporting quarter, while the total income rose to Rs 32,953.47 crore from Rs 29,394,32 crore in the year-ago period, the statement said.

Its net interest margin during the quarter stood almost flat at 3.77 percent for domestic operations, it said in a press statement. SBI's total capital adequacy stood at 12.63 percent with the core tier-I at 8.97 percent.

The bank scrip was trading 3.90 percent down at Rs 2,156 apiece on the BSE at 1315 hours, with the broader Sensex being 0.76 percent down.